KeyCorp Forecasts Strong Price Appreciation for Dycom Industries (NYSE:DY) Stock

Dycom Industries (NYSE:DY - Get Free Report) had its price target increased by KeyCorp from $255.00 to $295.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has an "overweight" rating on the construction company's stock. KeyCorp's price objective would suggest a potential upside of 15.17% from the company's previous close.

A number of other equities research analysts have also recently weighed in on DY. B. Riley lifted their price target on shares of Dycom Industries from $200.00 to $265.00 and gave the company a "buy" rating in a research report on Friday, May 23rd. Wall Street Zen upgraded shares of Dycom Industries from a "hold" rating to a "buy" rating in a report on Saturday, June 14th. Wells Fargo & Company lifted their price objective on shares of Dycom Industries from $215.00 to $250.00 and gave the company an "overweight" rating in a report on Tuesday, May 27th. DA Davidson lifted their price objective on shares of Dycom Industries from $220.00 to $265.00 and gave the company a "buy" rating in a report on Friday, May 23rd. Finally, UBS Group lifted their price target on shares of Dycom Industries from $258.00 to $288.00 and gave the stock a "buy" rating in a research note on Thursday, July 10th. Eight analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $259.00.

Dycom Industries Stock Down 0.1%

Shares of DY traded down $0.20 during mid-day trading on Wednesday, hitting $256.15. The company's stock had a trading volume of 81,270 shares, compared to its average volume of 423,023. The company's 50-day moving average is $231.57 and its 200-day moving average is $190.39. Dycom Industries has a 52-week low of $131.37 and a 52-week high of $257.93. The firm has a market capitalization of $7.41 billion, a price-to-earnings ratio of 32.47, a PEG ratio of 1.44 and a beta of 1.32. The company has a current ratio of 2.89, a quick ratio of 2.68 and a debt-to-equity ratio of 0.80.

Dycom Industries (NYSE:DY - Get Free Report) last released its quarterly earnings data on Wednesday, May 21st. The construction company reported $2.09 earnings per share for the quarter, topping analysts' consensus estimates of $1.62 by $0.47. The firm had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.19 billion. Dycom Industries had a net margin of 4.81% and a return on equity of 20.04%. The business's quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.12 earnings per share. On average, equities research analysts forecast that Dycom Industries will post 7.13 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in DY. Alyeska Investment Group L.P. purchased a new stake in shares of Dycom Industries during the 4th quarter worth approximately $80,584,000. OVERSEA CHINESE BANKING Corp Ltd lifted its position in shares of Dycom Industries by 851.6% during the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 475,637 shares of the construction company's stock worth $72,459,000 after buying an additional 425,652 shares during the last quarter. Norges Bank purchased a new stake in shares of Dycom Industries during the 4th quarter worth approximately $55,802,000. Assenagon Asset Management S.A. lifted its position in shares of Dycom Industries by 327.1% during the 1st quarter. Assenagon Asset Management S.A. now owns 399,226 shares of the construction company's stock worth $60,818,000 after buying an additional 305,755 shares during the last quarter. Finally, First Trust Advisors LP lifted its position in shares of Dycom Industries by 142.9% during the 4th quarter. First Trust Advisors LP now owns 496,407 shares of the construction company's stock worth $86,405,000 after buying an additional 292,050 shares during the last quarter. Institutional investors and hedge funds own 98.33% of the company's stock.

About Dycom Industries

Dycom Industries, Inc provides specialty contracting services to the telecommunications infrastructure and utility industries in the United States. The company offers engineering services to telecommunications providers, including the planning and design of aerial, underground, and buried fiber optic, copper, and coaxial cable systems; wireless networks in connection with the deployment of macro cell and new small cell sites; and program and project management and inspection personnel.